The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1887-09-16
HURTING HER CREDIT.
How the states Reputation Is Be-
ing Injured TO Help Treasurer
Lemcke Out.

ing Injured to Help treasurer
Lemcle Out.
A prominent member OF the Board o. ,
Trade. in conversation with Sentine'
repprter yesterday. said: II see the
.Jottnal n still harping on the matter OF
the Democratic Stale officers not paying
Sll7 600 of interest with $4,000. The
Journal seems. with the assistance OF The
present State officers, some Of whom ex-
pressed themselves as not knowing
much about ii, TO think that il the form
er officials had borrowed $4,000 from
the Universiiy Fund they wouin have
had about slOU. 900 III The Grnrrai Fund
with which 10 pay the Sll7 Coz
Repo,ter: Yes the Journal Is trying
10 arrange the matter, but what do you
know about il z"
Bosrd Of Trade Man: swell know
if tbe Democratic State officers declined,
a. they seemed 10 have done, TO borrow
< 10 900 AZ arate OF or per cent In
ierest lust for the sake OF borrowing, a.
n i apparent that the $4,000 added tol
'i,he s5oc0O would not have made enough
IA nav the sii7 OOe, but would have oD-
lliga,ed the State for the interest for sew
leral months, they did a very wise thing
and something that IS commentators:
lThe present State officers can't lay any
claim to The avoidance Of the payne
OF unnecessary interest and all this
howl i 70 take attention away rom ine
resolutions passed By the Board 81
Trade condemning their conduct ~ ahe
matter of the temporary loan which whs
riadr shortly after the Eepublican Al
Idilor and Treasurer took their oMces'
.How abeut thats'
.Wcll. there was money needed 20 pay
Interest. II WAS needed ~ instruments
of about Se0O each. Coffin a. Sian
iton made The following proposition:
loace us n. seersn & o.. brokers and Appraisers
clEeality-
!. INDIANAPOLIS. lSD.. March IT, ISL
To tAe error Treasurer aId Anaitef p rtAte ~
(. disnApoIis, Ind.
GENTLEMEN We will take your pro-
POSED State Loan Of 100000, 70 rrn nve
years. and to be rtdeemable al the pleas
,,re Of the State in two years for when
we will take tie bonds 81 the State ~
lpar. bearing three and three terths ~ 8
lOl Der centum interest per anuum, pay
Il able in New York.
4 Respectfully submitted,
CoFFiN a STANTON,
BY 5. 4. SHsERIN-
INDIANAPOLIS. ISD.. March IL, 1851.
} The above proposition, $35oOoO, 3 .
ifo per cent, IS hereby accepted
:, Isaac Il. GRAY,
Governor,
!. A. LEMcKE,
Treasurer ot state,
Bruce CARR.
nd Auditor OF State.
AFTER lhis bid had been made and as
= lcepled. Mr. Lemckc suddenly dsscoy
lered that Mol.er& Co. of New lorl
. had made = hia CA Indiana securliif
To- long before The General Assembly ha
adjourned and consequently before
was known that there would be any loa
10 make. Lemcke then induced u
ND state Board Of Finance 20 repudiste N
!" agreement VI itt Coffin a stanton. whic
was done III the following cuuAmunica
- lion which was handed 10 MIR. Stanloi
March "a. 1857:
You are hereby notified that the Gov
esnor, Auditor Of State, aud Treasure
lof State have rc-c0nsidercd and DO here
VI lby reconsider the necessity Os taking
loan or $4,000; that they have recon
is sidered and do hereby re-conslder thel
a acceptance OF your proposition of ~
hel l7th inst. 10 take the bonds Of the stat
a io The amount of $4,000 at par Al ,
nj 10 per cent per annum. and they hay
lfIaud 40 hereby decline your proposition
al "Cofiin 4 stanton. finding that the SCI
elond bidder had been allowed 10 come
and bid after their bid had been accepte,
: Thought they should have the same r'gl
y Ito bid on the expressed proposition COZ
ltained IN the bid Of their competitor
lSo they made another oner, which VI
much lower than the bid accepted al
ana which was 81 follows:
We regard our contract good Ia lay
/. lgood in morals and good in the eve'
rsrIday business relations OF life. We fe'
!. however, that we are at disadvantag
liz compelled to fight the State. We ba'
large interests in Indiana. With all d.
respect for you, gentlemen, we ha
r. larger financial interests In Indiana th'
yon have. Our interests are based sol
! liz on the honor and good faith Of Z
- State. We can not afford to allow l
diana, through any act OF ours, althouI
I've are entirely blameless. TO appear
even the seeming character Of reput
- ator. The names that are signed 70 o
y, a,contract are the same that will be sign
! :, to any bonds of the State issued VIII
49,, you gentlemen are In Office.
Now, In the interest Of the State,
, or fmake the following Pre- position:
we are informed, under the law, II
you have no authority to borrow mon
except for the purpose Of paying inter-
lon the public debt. we will, as agents
- the State, advance money sufficient
: pay the several instalmcnts OF inter-
as they may mature. holding such e
dence or such payment rs may be leg
ly given ue /, the amounts 50 20 DC ~
l-x...s. ~ uI